In 2023, Bitcoin $BTC embarked on a rollercoaster journey, with a robust start that ignited hopes of a crypto market resurgence. However, recent fluctuations have left it teetering around the $26,000 mark, casting uncertainty over its future, especially in light of the impending Bitcoin halving in 2024. Over the past month, Bitcoin has suffered a drop exceeding 10%, further intensifying the atmosphere of unpredictability.
Financial analyst Layah Heilpern diligently compiled a range of forecasts from experts regarding Bitcoin price prediction in 2024. These predictions diverge significantly; Tim Draper is optimistic with a lofty projection of $250,000, while JP Morgan adopts a more cautious stance with an estimated $45,000. Cathie Wood's audacious prediction of $1 million stands out, Arthur Hayes anticipates $70,000, and Robert Kiyosaki envisions Bitcoin scaling the heights of $100,000.
Amid this array of forecasts, Layah Heilpern makes her prediction, positing a target of $75,000 for Bitcoin in 2024. However, she adds an intriguing twist, suggesting that the bull market might not materialize until 2025. Her statement on X underscores this perspective, "My projection appears the most grounded. I foresee the real bull market igniting in 2025.
Reflecting on Bitcoin's recent history, it reached a record pinnacle of $68,789.63 in 2021 but experienced a substantial decline to $15,760 in 2022. The onset of 2023 brought renewed optimism as Bitcoin surged by 83%, breaching the $31,035 mark. However, mid-August delivered an unexpected blow, resulting in a rapid 7.2% drop that saw Bitcoin's value plummet from $29,000 to $26,000 in less than a day. Currently, Bitcoin hovers around $26,632, with a prevailing bearish sentiment permeating the market.
The market is likely to face heightened volatility in the upcoming week due to the release of PPI and CPI rate updates. This will add to the already complex situation.
Disclaimer:
This article is only for info purposes only & should not be considered investment advice. Cryptocurrencies are highly volatile, and investors should research and consider the risks before investing.
